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Sociology can be a liberating practical activity.
Product Variation
The process by which firms make a product distinct from similar products offered by competitors, through features, design, or quality.
Mutual Interdependence
A situation in which the outcomes, actions, or decisions of two or more parties affect each other.
Price-Output
Refers to the relationship between the price levels of products and the quantity of goods or services produced or supplied in the market.
Pure Monopoly
A market structure where a single seller dominates the market, possessing significant market power to set prices and output levels.
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